Ukraine’s President Volodymyr Zelenskiy has signed a law allowing the government to suspend foreign debt payments until Oct. 1, paving the way for a moratorium to be called that would formally mark a sovereign default.
Earlier this month, Ukraine announced a preliminary deal with a committee of its main bondholders to restructure its near $20 billion worth of international debt.
Prompted by Russia’s 2022 full-scale invasion, it will be its second such rework in a decade following a similar deal after the 2014 invasion of Crimea.
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